Spain's trade deficit increased from -€2.54 billion in May to -€3.59 billion in June, the 2nd-largest June trade deficit in the last 10 years (second to 2022)

• Exports dropped -3.5% MoM but were still up 2.4% YoY, and imports were mostly unchanged at -0.5% MoM but up 10.9% YoY.
• The deficit for Q2 2025 was -€10.0 billion, down from -€15.1 billion in Q1 2025 but up from -€7.7 billion in Q2 2024.
• In June, non-energy exports were up 4.5% YoY, and non-energy imports were up 13.9% YoY. Energy exports and imports were down -21.5% YoY and -9.8% YoY, respectively.